Key Regions to Highlight Bullish Growth for Micro Motor Market
Major regions across the globe are analyzed in a study to understand the scope of the micro motor market. The major seven regions assessed for this purpose include Latin America, Japan, North America, Eastern Europe, Asia Pacific Excluding Japan (APEJ), Western Europe and Middle East and Africa (MEA). North American and Western European regions are expected to witness healthy growth of micro motor market. With the emergence of next-generation technology and development in technologies such as 3D printing and industrial automation, in these regions, the scope for increasing demand for micro motor is on a steady upturn.
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Increasing applicability of micro motor with advent of technology will continue to push major investments in North America and Europe, in addition to fueling supplies by leading manufacturers. Asia Pacific is another major contributor to the overall growth of micro motor market. As APAC’s automotive sector flourishes, the region signifies tremendous opportunities for the micro motor manufacturers. With key investments done in South American countries the market for micro motor in this region provides major growth opportunities. For example, the production plant opened in Brazil, by Johnson Electric acted as the company’s crucial strategy for serving their customer base in South America.
Surging Applicability across Multiple End-user Segments Reflects Increasing Demand for Micro Motors
Attributing to the increasing developments in the automotive sector and continual emergence in technologies such as 3D printing and automation, there is a significant demand for compact yet highly efficient equipment for achieving optimized operations. With new products as the EVALSP820-Xs by STMicroelectronics that expand the 3D printing accessibility with compact and cost-effective solutions for quick prototyping, the future looks bring for micro motor business.
The DC word geared micro motor by Zhengke is designed for use in automatic doors, medical devices, windows, and other electrical appliances as it comes with a self-locking torque enabling the shaft to stop rotation when power is switched off.
The rising automation in industries is amongst the major factors that is expected to contribute to the growth of the micro motor market. This is majorly witnessed in the medical sector which is promoting the use of automation for elevating the conventional standards of medical service. With cost-effective alternatives such as micro motor, laboratories can achieve operational automation for testing volumes of samples in quick yet efficient manner. Owing to their use in sectors including medical, chemical testing laboratories, molecular biology, and others, the manufacturers are aiming at providing cutting-edge micro motor with dynamics and high-precision.
Automotive sector is providing growth opportunities to micro motor manufacturers owing to its features that allow auto-makers to incorporate amenity along with luxury. Furthermore, the economically-efficient and durable micro motor is finding its application in the increasing construction, healthcare, mining, and automobile centers. Manufacturers are aiming at reducing the size of the micro motor while developing greater operational excellence to ensure better performance. With the advancement of technology and the adoption of these state-of-the-art technologies by manufacturers, the development of high-performance electric micro motor is made possible.
Apart from automotive sector, the space industry also witnessed demand for micro motor. For instance, Maxon motor would provide its efficient DC micro motor to the US space agency, NASA who would incorporate the micro motor into their helicopter being designed for their upcoming Mars 2020 rover mission.
Market Participants to Leverage Market Potential with New Strategies
The key market players in the micro motor market are seen engaging in new product developments, ventures, strategic developments and transformations to ensure that they could harness the capabilities offered by the micro motor market. The major participants in the micro motor market include Risun Expanse Corp., Kin Yat Holdings Ltd., Arun Microelectronics Ltd., Shenzhen Zhaowei Machinery & Electronics Co. Ltd., Citizen Micro Co. Ltd., Dr. Fritz Faulhaber Gmbh & Co., Lunar Motors Pvt. Ltd., Foshan Shunde Hengxing Micro-Motor Co., Ltd., Piezomotor, and Zhengke.
Players are seen innovating in micro motor products. Zhengke launched their new compact micro motor that is durable and attributed with low noise. This micro motor is highly efficient and could solve the challenges of limited space.
Players such are involved in expansion strategies as well. Dr. Fritz Faulhaber Gmbh & Co has expanded its capabilities in Italy to gain a competitive edge.
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Micro Motor Market Classification
The micro motor market is segmented based on type, application, sales channel, and technology.
- Based on type, the micro motor market is sub-divided into AC motor and DC motor.
- On the basis of application, the micro motor market is segmented as aircraft, automotive, construction equipment, 3D printing, medical equipment, industrial automation, and others.
- The sales channels examined for analyzing the micro motor market include aftermarket and original equipment manufacturer (OEM).
- The technology segments of the micro motor market include brushless motor and brushed motor.